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HomeBuilder the star of economic recovery driving $50 billion boost to economic activity

homebuilder-the-star-of-economic-recovery-driving-50-billion-boost-to-economic-activity

The overwhelming success of the Federal Government’s HomeBuilder scheme in driving economic recovery is confirmed by new data released today.

“It’s even more proof that a stronger building industry means a stronger economy,” Denita Wawn, CEO of Master Builders Australia said.

“HomeBuilder has been the star in the Government’s economic recovery plan since it was announced in June last year along with measures such as JobKeeper,” she said.

“HomeBuilder will support $18 billion in new home construction and $50 billion in economic activity across the wider economy,” Denita Wawn said.

“The surge in new home construction being driven by HomeBuilder has averted the valley of death that was confronting residential builders and tradies due to the pandemic,” she said.

“Without HomeBuilder thousands of small builder and tradie businesses would have gone under and hundreds of thousands of jobs would have been lost,” Denita Wawn said.

“There is no doubt that the Federal Government’s decisive action to implement HomeBuilder in the eye of the Covid storm saved the day for thousands of small builders and tradies, the people they employ and communities they support around the country,” Denita Wawn said.

“The success of HomeBuilder also demonstrates that measures that support people to overcome the deposit gap is a game-changer in making homeownership available to more Australians,” she said.

“The benefits of homeownership to individuals, families and the community can never be underestimated and the Government also deserves credit for element of HomeBuilder’s success,” Denita Wawn said.

State & Territory HomeBuilder Stats

New Build Rebuild Total
New South Wales 8,714 4,973 13,687
Victoria 17,382 4,213 21,595
Queensland 13,507 3,106 16,613
Western Australia 11,141 783 11,924
South Australia 5,949 1,479 7,428
Tasmania 1,521 291 1,812
ACT 1,371 520 1,891
Northern Territory 178 15 193
Total 59,763 15,380 75,143

 

 

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